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Wiley CPAexcel Exam Review 2015 Study Guide July: Financial Accounting and Reporting

Wiley CPAexcel Exam Review 2015 Study Guide July: Financial Accounting and Reporting

ISBN: 978-1-119-11994-4

Jun 2015

1248 pages

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Description

The Financial Accounting and Reporting Volume of the Wiley CPA Examination Study Guides arms readers with detailed outlines and study guidelines, plus skill-building problems and solutions, that help the CPA candidates identify, focus on, and master the specific topics that need the most work. Many of the practice questions are taken from previous exams, and care was taken to ensure that they cover all the information candidates need to master in order to pass the new computerized Uniform CPA Examination

About the Author

O. RAY WHITTINGTON, CPA, PHD, CMA, CIA, is Dean of the Driehaus College of Business and Kellstadt Graduate School of Business at DePaul University. Ray is a former member of the AICPA Auditing Standards Board and the AICPA Accounting and Review Services Committee. He is also the coauthor of Audit Sampling: An Introduction, Fifth Edition, available from Wiley.

Preface vii

About the Author ix

About the Contributor ix

INTRODUCTION 1

Chapter 1: Beginning Your CPA Review Program 3

Chapter 2: Examination Grading 17

Chapter 3: The Solutions Approach 19

Chapter 4: Taking The Examination 27

Chapter 5: Exam Content Overview 31

FINANCIAL ACCOUNTING AND REPORTING 39

Module 9: Basic Theory and Financial Reporting 41

Module 10: Inventory 219

Module 11: Fixed Assets 269

Module 12: Monetary Current Assets and Current Liabilities 331

Module 13: Present Value 397

Module 14: Deferred Taxes 539

Module 15: Stockholders’ Equity 579

Module 16: Investments 641

Module 17: Statement of Cash Flows 689

Module 18: Business Combinations and Consolidations 727

Module 19: Derivative Instruments and Hedging Activities 787

Module 20: Miscellaneous 827

Module 21: Governmental (State and Local) Accounting 899

Module 22: Not-for-Profit Accounting 985

APPENDICES 1019

Appendix A: Outlines of Accounting Pronouncements 1021

Appendix B: Financial Accounting and Reporting Sample Examination 1145

Appendix C: Sample Financial Accounting and Reporting Testlet Released by AICPA 1179

Appendix D: 2015 Released AICPA Questions for Financial Accounting and Reporting 1187

INDEX 1205